Biometric Authentication in Fintech: Enhancing Security in Digital Banking

Biometric authentication uses unique biological traits like fingerprints, facial recognition, or iris scans to verify a user’s identity, offering a highly secure alternative to traditional passwords. In fintech, this technology is increasingly adopted by digital banking platforms to enhance security, reduce fraud, and streamline user experience. By leveraging biometrics, fintech companies can offer faster, more reliable authentication methods, reducing the risk of hacking or identity theft. However, concerns around data privacy, storage, and potential misuse of biometric data also need to be addressed to ensure trust and compliance.